AS/NZS ISO 31000:2009 - Risk Management Standard
Risk management is the logical and systematic method for identifying, analysing, assessing, treating, monitoring and communicating risks associated with business activities in a way that will avoid or minimise losses and maximise opportunities.
ADP acknowledges that the adoption of a structured approach to risk management encourages more effective decision-making, preventative fraudulent measures, effective allocation and use of resources, effective delivery of products and services, transparent decision making and improved organisational morale and enhanced accountability.
The ADP Board of directors is committed to:
- Ensuring a risk management system is established, implemented and maintained based on the AS/NZS ISO 31000:2009 Risk Management standard.
- Establishing formal management and operational practices which will ensure exposures to risk are identified, quantified and controlled through appropriate risk management strategies.
- Monitoring and reviewing the performance of its risk management system.
Corporate governance is the system by which an organisation is directed and controlled. Corporate Governance activities are represented as four principal components: direction, executive action, supervision and accountability.
Sound risk management is an essential component of good corporate governance.